@jack shows Twitter some love, buys nearly $7M in stock

gettyimages-524251000.jpg

Twitter CEO Jack Dorsey loves his company and is putting his money behind it.


Newspix via Getty Images

There’s at least one person who loves Twitter a whole lot: co-founder Jack Dorsey.

The CEO on Valentine’s Day tweeted out his affection for his popular, yet struggling social network, complete with the hashtag #LoveTwitter. He also linked to an SEC document detailing the roughly 426,000 shares of the company’s stock he bought for nearly $7 million.

Naturally, there was some praise, but also a healthy dose of skepticism within the Twitterverse:

Dorsey’s stock purchase comes nearly a week after Twitter announced its 2016 fourth-quarter revenue didn’t meet Wall Street analysts’ expectations and its user growth grew less than 1 percent. That disappointed investors who were expecting a “Trump bump” caused by the US president’s constant tweeting.

Dorsey said last week the company will be “more inventive and take bigger risks.”

While $7 million is a lot of money to us common folk, it’s a rounding error for Dorsey, who also runs mobile payments company Square. His net worth is estimated to be about $1.27 billion, according to Forbes.

It’s Complicated: This is dating in the age of apps. Having fun yet? These stories get to the heart of the matter.

Does the Mac still matter? Apple execs tell why the MacBook Pro was over four years in the making, and why we should care.

GD Star Rating
loading...

From: https://www.cnet.com/news/jack-dorsey-shows-twitter-some-love-buys-nearly-7-m-in-stock/#ftag=CAD590a51e

Leave a Reply

Your email address will not be published. Required fields are marked *

Archives

Advertisement

Advertisement